As of now, the Dow futures are down more than 330 points, while SPX futures are now more than 40 points.

It looks like SPX may be testing 1800 soon, and, we could likely see SPX at 1700 sometime in 2016!

What to sell? Biotechs have been going up and up for many years. Now, they have a long way to come down! What about energy stocks? I have been writing about oil going lower. Fossil fuel, as a source of energy, will quickly be replaced. It is like CDs and DVDs being replaced by the more efficient, tiny, portable drives that can carry terabytes of information, fossil fuel is now finally being recognized globally as a big contributor to the destruction of our environment, and, it will soon be replaced by renewable energies. Oil stocks will likely continue to go lower and lower, until worthless. Among the oil stocks, oil services, especially offshore drillers, will likely to go first. I would expect offshore drilling to become too expensive and not economical as an option, if offshore drilling itself is not being banned beforehand.

I might start to look at gold (GLD) and bonds (TLT). I have some downside plays in Ecstatic Plays and Happy Trades portfolios. I have been staying mostly in cash in these. But, I may start to add more puts.

In August 2015, I wrote an article, titled "It's Time to Migrate Out of Oil". Oil is now approaching the $30 mark and USO is single-digit! Solar stocks have recent jumped. This trend will likely continue.

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The market was very strong last week. A quick drop on Wednesday as an initial reaction to the Fed was quickly reversed by a sharp rally that pushed SPX to above 2090. In my Market Forecast last weekend, I talked ...

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